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- Global gold demand grew in Q1 2019 on increased central bank buying - WGC
Global gold demand grew in Q1 2019 on increased central bank buying - WGC
Key highlights of the latest World Gold Council’s (WGC) Gold Demand Trends report for the first quarter of 2019:
Global gold demand grew to 1,053.3 tonnes in the first quarter of 2019. This constitutes a 7% rise year-on-year, largely driven by continued growth in central bank buying, as well as growth in gold-backed exchange-traded funds (ETFs).
Central banks bought 145.5 tonnes of gold – up 68% year-on-year and representing the strongest start to a year since 2013. The increased demand was largely due to diversification and a desire for safe, liquid assets.
ETFs and similar products added 40.3 tonnes in Q1, up 49% year-on-year. Bar and coin investment fell 1% to 257.8 tonnes.
Gold demand for jewellery grew 1% y/y to 530.3 tonnes and boosted by India. In India, jewelry demand grew 5% to 125.4 tonnes – the highest growth since the 1st of 2014.
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